B1, B2 and B3 are partners in the partnership with the following contribution: Partner Capital Balance Income

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B1, B2 and B3 are partners in the partnership with the following contribution:

Partner Capital Balance Income share. B1 150,000 35% B2 100,000 30% B3 200,000 35%

B2 decided to retire and receives 145,000 in cash from the partnership.

If the excess payment is from the asset revaluation, what is the capital balance of B1 subsequent to the retirement of B2?

Related Book For answer-question

Accounting Principles

ISBN: 9780471980193

8th Edition

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel

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Posted Date: May 18, 2024 06:14 PM

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B1, B2 and B3 are partners in the partnership with the following contribution: Partner Capital Balance Income

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Accounting Principles

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